Marcus Hotels & Resorts, Hempel Real Estate and Robinson Park Close Acquisition of Loews Minneapolis Hotel

The 251-room property will be rebranded as The Lofton Hotel under the Tapestry Collection by Hilton flag; Marcus Hotels & Resorts to manage the property

Marcus® Hotels & Resorts, a nationally recognized owner and management company and division of The Marcus Corporation (NYSE: MCS), announced today that it, Hempel Real Estate, and Robinson Park have closed on the acquisition of the Loews Minneapolis Hotel. The property will be managed by Marcus Hotels & Resorts, effective today, and will be rebranded immediately as The Lofton Hotel under the Tapestry Collection by Hilton flag, making it the first Tapestry Collection hotel in Minnesota. The terms of the transaction were not disclosed.

“Since 1993, Marcus Hotels & Resorts has been invested in elevating the travel and leisure experience in Minneapolis, a city we greatly admire and appreciate,” said Michael Evans, president of Marcus Hotels & Resorts. “The Lofton Hotel’s chic design, incredible location, and ample amenities create a welcoming destination for travelers visiting the Twin Cities and experiencing all they have to offer. With The Lofton Hotel now part of the Tapestry Collection by Hilton platform, we look forward to welcoming our new associates to the Marcus Hotels & Resorts family and providing our guests with the high-quality service and experience for which Hilton and we are known. We also look forward to playing an active part in the continued resurgence of the downtown business and social community.”

“We are excited to invest once again in the downtown community of Minneapolis, a community we believe in,” said Mark Beffort, chief executive officer of Robinson Park. “With the backing of the Tapestry Collection by Hilton and the management expertise of Marcus Hotels & Resorts, The Lofton Hotel is poised to deliver an unparalleled experience in the heart of the downtown core.”

“As long-time investors in the Twin Cities area, we are thrilled to invest in a major downtown landmark at the heart of the city’s sports and entertainment districts,” said Josh Krsnak, chief executive officer at Hempel Real Estate. “This investment aligns closely with Hempel’s commitment to real estate projects that add meaningful value to cities and their communities.”

The Lofton Hotel

Located in downtown Minneapolis, The Lofton Hotel is steps from the city’s shopping and entertainment districts as well as premier sports destinations like the Target Center, which is connected to the hotel via skywalk, and Target Field. Business travelers can also easily connect to the business district and nearby office buildings using the famous Minneapolis Skyway System.

This full-service lifestyle property features 251 contemporary guest rooms and suites that highlight the state’s topographic features. In addition to artwork adorning the rooms and common areas that draws inspiration from key aspects of Minneapolis’ identity, each room is equipped with the latest amenities, such as Keurig gourmet coffee makers, and lavish limestone counters and glass basins in the bathrooms. The Lofton Hotel’s suites have impressive views of the city skyline with many boasting views directly into Target Field, including onto home plate. Additionally, each suite offers extra space and additional amenities to make guest stays more comfortable. Two of The Lofton Hotel’s signature suites celebrate famous local artists with unique features, such as an in-room grand piano once played by the Piano Man himself, Billy Joel, large living spaces for entertaining, and artwork that celebrates Minneapolis icons. In addition, The Lofton Hotel boasts more than 15,000 square feet of flexible meeting and event space that offers state-of-the-art audiovisual technology for meetings, group events, and weddings of all sizes.

Food and beverage outlets include a signature restaurant currently serving New American cuisine inspired by the Pacific regions, as well as a bar and lounge on the lobby level offering handcrafted cocktails and local microbrews, along with small bites. To appeal to both locals and guests alike, both concepts will be updated to offer an elevated food and beverage experience. Other hotel amenities include a robust business center, a fitness center with a full range of cardio-vascular and weightlifting equipment as well as Peloton bikes, a pet-friendly policy, and an attentive concierge service to help travelers get the most out of their stays.

The Lofton Hotel’s New General Manager

Marcus Hotels & Resorts has appointed Jim Waldvogel as general manager of The Lofton Hotel, effective immediately. Waldvogel brings more than 30 years of hospitality experience, with more than 26 years of his career serving in various leadership positions at other hotels in the Minneapolis area for Marcus Hotels & Resorts. In addition to his new role, he continues to serve as managing director and general manager of the company’s Hilton Minneapolis/Bloomington property. Under his leadership, Hilton Bloomington/Minneapolis has earned Hilton’s prestigious Award of Excellence four years in a row. Previously, Waldvogel served as general manager of Marcus Hotels & Resorts’ formerly managed property, Crowne Plaza Northstar in Minneapolis. Waldvogel is an active community leader and volunteer in the Twin Cities area, having served on the boards for various local nonprofit organizations and convention and visitor bureaus.

“We are excited for Jim to assume leadership of The Lofton Hotel, a property we believe fits perfectly within our portfolio of premium branded and independent hotels,” said Evans. “His proven hospitality expertise and passion for making each guest’s stay extraordinary will continue to elevate The Lofton Hotel as one of the top destinations in the Twin Cities.”

Hilton Honors

The Lofton Hotel is part of Hilton Honors®, the award-winning guest loyalty program for Hilton’s 18 world-class brands. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount that can’t be found anywhere else and free standard WiFi. Members also have access to contactless technology exclusively through the industry-leading Hilton Honors mobile app, where Hilton Honors members can check-in, choose their room and access their room using Digital Key.

For more information or to book a reservation at The Lofton Hotel, please visit: www.tapestrycollection.com/theloftonhotel.

About Marcus Hotels & Resorts

With the addition of The Lofton Hotel, Marcus Hotels & Resorts owns and/or manages 16 hotels, resorts and other properties in the U.S. The company’s distinctive portfolio includes city-center meeting hotels, upscale resorts, historic properties, and premium branded and independent first-class hotels. Marcus Hotels & Resorts is an approved operator for all major lodging brands. A leader in the hospitality industry since 1962, Marcus Hotels & Resorts creates asset value for hotel owners through its expertise in management, development and product repositioning. This includes premier food and beverage brands such as Mason Street Grill, ChopHouse, Miller Time® Pub & Grill and SafeHouse® Restaurants. For more information, please visit: http://media.marcushotels.com and follow the company on Facebook, Instagram and LinkedIn.

About The Marcus Corporation

Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its lodging division, its theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S. and currently owns or operates 993 screens at 79 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex® brands. For more information, please visit the company’s website at www.marcuscorp.com.

About Hempel Real Estate

Hempel Real Estate is a Minnesota based leading commercial real estate firm dedicated to acquiring, developing, leasing and managing commercial properties in markets throughout the Midwest. Founded in 2001, Hempel Real Estate has earned a reputation for bringing dynamic and fresh vision to real estate investment. Hempel has more than 3 million square feet in its portfolio. With a proven track record of success, Hempel Real Estate specializes in turnaround projects and new and re-use development properties with a focus on retail, office, hospitality, and multi-family.

About Robinson Park

Based in Oklahoma City, Robinson Park is a leading commercial real estate firm, delivering innovative solutions to clients nationwide. With over 120 years of experience, Robinson Park has grown into a full-service enterprise encompassing investments within the office, industrial, hospitality and multi-housing commercial real estate sectors. Spanning over 11 markets and $2 billion of assets under management, Robinson Park offers specialized services in investment and development opportunities, property management, brokerage, construction management, architecture and design, and strategic research and analysis. For more information, please visit the company’s website at www.robinson-park.com and follow the company on LinkedInInstagram and Facebook.

About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 22 world-class brands comprising more than 7,500 properties and nearly 1.2 million rooms, in 126 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 3 billion guests in its more than 100-year history, was named the No. 1 World’s Best Workplace by Great Place to Work and Fortune and has been recognized as a global leader on the Dow Jones Sustainability Indices for seven consecutive years. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 180 million members who book directly with Hilton can earn Points for hotel stays and experiences money can’t buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on FacebookTwitterLinkedInInstagram and YouTube.

About Tapestry Collection by Hilton

Tapestry Collection by Hilton is a portfolio of over 120 original hotels that offer guests unique style and vibrant personality, encouraging them to connect to their destination and enjoy authentic, off-the-beaten-path experiences. While each property has a unique story to share that comes to life through uplifting design and unique food & beverage, every Tapestry Collection property is united by the reliability that comes with the Hilton name, in addition to the benefits of the award-winning Hilton Honors program. Experience Tapestry Collection by Hilton by booking at tapestrycollectionbyhilton.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Tapestry Collection by Hilton at stories.hilton.com/tapestry, and follow the brand on FacebookInstagram and Twitter.